Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Unit 3 > Chapter 13 > Flashcards

Chapter 13 Flashcards

1
Q

Deficit

A

Revenues

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Expenditures

A

Spending

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Revenues

A

Income

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Income tax

A

Highest source of government revenue

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Progressive

A

The more you make the higher percent you pay

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Regressive

A

Tax is a higher percentage the less you make

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Flat tax

A

Everyone pays same percentage

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Social insurance taxes

A

One of the highest sources of government revenue

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Intergovernmental debt

A

Money owed within the federal government to its trust funds for various social programs like social security

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

National debt

A

All the money borrowed by the fed govt that is still owed plus interest

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Debt ceiling

A

A limit placed by congress on how much they can borrow

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

National security state

A

Ways we spend our money; national defense

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Military industrial complex

A

Leads to strong standing military force

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Procurement

A

Buying things

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Social service state

A

Income security expenditures are the biggest payouts from the fed govt

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Social security act

A

FDR; meant to give elderly a minimal level of sustenance

17
Q

Medicare

A

Medical care to elderly and disabled

18
Q

Incrementalism

A

Previous budget plus some

19
Q

Uncontrollable expenditures

A

Largest expenditures are due to policies that already exist

20
Q

Entitlements

A

Benefits paid by the govt

21
Q

Interest groups

A

By working with agencies and lobbying congress these groups make sure their needs are funded

22
Q

Agencies

A

Must send budget requests to OMB

23
Q

Office of management and budget

A

Work with agencies to evaluate their needs

24
Q

President

A

Must propose budget to congress in February

25
Q

Tax committees

A

House ways and means and senate finance committees

26
Q

House ways and means committee

A

Writes tax codes

27
Q

Senate finance committee

A

Writes tax codes

28
Q

Budget committees

A

Examine revenues and expenditures

29
Q

Congressional budget office

A

Collects info about potential budget choices and revenues

30
Q

Authorization committees

A

Committees propel use new laws regarding their area

31
Q

Appropriations committees

A

Funds the programs

32
Q

Congress

A

Must vote to pass budget

33
Q

Government accountability office

A

Audits monitors and evaluates how agencies use budget

34
Q

Budget resolution

A

Constrains expenditures to a certain amount

35
Q

Reconciliation

A

Budgets are revised to meet regulations set by budget resolution

36
Q

Authorization bill

A

Establishes the program to have goals and spending limits

37
Q

Appropriations bill

A

Funds the program

38
Q

Continuing resolutions

A

When they can’t be agreed upon a law can be made to allow agencies to use last year’s budget

39
Q

Budget

A

Policy allocating burdens and benefits. A series of goals with price tags attached

Unit 3 (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions